Transaction Announcement

FARMERS & MERCHANTS BANK OF ORFORDVILLE HAS AGREED TO BE ACQUIRED BY BANK OF BRODHEAD

Olsen Palmer is pleased to announce that Farmers & Merchants Bank of Orfordville (“Farmers & Merchants Bank”) has entered into an Agreement and Plan of Merger to be acquired by Brodhead Bancshares, Inc., parent of The Bank of Brodhead.

Olsen Palmer LLC served as exclusive financial advisor to Farmers & Merchants Bank in connection with this transaction.

Olsen Palmer remains ranked as a Top 5 bank M&A advisory firm according to SNL Financial/S&P Global, based on the number of whole-bank M&A transactions advised upon in 2019 year-to-date.

The transaction is expected to be completed in the fourth quarter of 2019 pending regulatory and shareholder approvals as well as other customary closing conditions. Brodhead Bancshares, Inc. will be the holding company for both banks following closing of the transaction and it is anticipated that Farmers & Merchants Bank will be merged with and into The Bank of Brodhead at a future date.

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OLSEN PALMER CLIENT FIRST MADISON BANK & TRUST HAS BEEN ACQUIRED BY UNITED COMMUNITY BANKS, INC.

Olsen Palmer is pleased to announce that on May 1, 2019, First Madison Bank & Trust (“First Madison”) was acquired by United Community Banks, Inc. (“United”, NASDAQ: UCBI) in an all-cash transaction valued at approximately $52 million, equivalent to 1.94x First Madison’s normalized tangible common equity (“TCE”) based on a normalized TCE ratio of 9.0%.

Olsen Palmer LLC served as exclusive financial advisor and issued a Fairness Opinion to First Madison Bank & Trust.

Olsen Palmer is ranked as a Top 5 bank M&A advisor across the entire U.S. according to SNL Financial/S&P Global, based on the number of whole-bank M&A transactions advised upon in 2019 year-to-date.

If you would like additional information or have any questions on M&A, valuation, or strategic options please feel free to contact me at 202-627-2043 or colsen@olsenpalmer.com.

 

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OLSEN PALMER CLIENT SENB BANK ACQUIRES GATEWAY BANC CORP.

Olsen Palmer is pleased to announce that McLaughlin Holding Company (“McLaughlin”), holding company for SENB Bank (“SENB Bank”), has acquired Gateway Banc Corp., parent company of Gateway Community Bank (collectively, “Gateway”). Under the merger, McLaughlin has acquired 100% of the outstanding stock of Gateway in an all-cash transaction.

Olsen Palmer LLC served as exclusive financial adviser to McLaughlin Holding Company, parent of SENB Bank.

The combined company has approximately $313.7 million in total assets and 7 branches spanning  through Northwest Illinois and Southern Wisconsin. With the merger, SENB Bank will enter the greater Rockford, Illinois area, the third largest city in the state, and Beloit, Wisconsin, part of the second largest Metropolitan Statistical Area in in Wisconsin.

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OLSEN PALMER ADVISES CAMP GROVE STATE BANK IN AGREEMENT TO BE ACQUIRED BY KATZ CAPITAL

Olsen Palmer is pleased to announce that Camp Grove Bancorp, Inc., parent company of Camp Grove State Bank, has signed a definitive agreement to be acquired by an affiliate of Katz Capital in an all-cash transaction.

Olsen Palmer LLC served as exclusive financial advisor to Camp Grove Bancorp.

Olsen Palmer is now the #3 ranked bank M&A advisor in the entire U.S. according to S&P Global, based on the number of whole-bank transactions advised upon in 2019 year-to-date.

With the transaction, which is set to close in the second half of 2019, Katz Capital will bring a new community bank to Florida and will expand the services of its wholly-owned entities into greater Illinois.

If you would like any additional information or have any questions – on M&A, valuation, or strategic options – please feel free to contact me at 202-627-2043 or colsen@olsenpalmer.com.

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OLSEN PALMER IS PLEASED TO ANNOUNCE FIRST NATIONAL BANK OF MCHENRY HAS BEEN ACQUIRED BY BLACKHAWK BANK

Olsen Palmer is pleased to announce that First McHenry Corporation, parent company of First National Bank of McHenry, has been acquired by Blackhawk Bancorp, Inc. (OTCQX: BHWB), parent company of Blackhawk Bank, in an all-cash transaction valued at $23.0 million.

Olsen Palmer LLC served as exclusive financial advisor to First McHenry Corporation and is now ranked as one of the top 5 bank M&A advisors in the U.S. according to S&P Global, based on the number of whole-bank M&A transactions advised upon in 2019 year-to-date.

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